Guyanese economy to benefit as House passes bills to roll out Budget 2026 measures

The National Assembly has paved the way for the People’s Progressive Party/Civic (PPP/C) Government to implement the series of measures contained in Budget 2026 that are aimed at increasing disposable income, reducing the cost of doing business, and incentivising investments in specific sectors.
In the wee hours of Saturday, the House approved the Fiscal Enactments (Amendment) Bill that was piloted by Senior Minister with Responsibility for Finance Dr Ashni Singh. This was after the National Assembly passed Budget 2026, which was presented in January under the theme “Putting People First”.
According to the Finance Minister in his remarks before the Bill was voted on, “I believe that the merits of this Bill speak for themselves… I strongly advocate the Bill enjoys the unanimous support of the House because it does propose a number of very important measures that will ensure the delivery of the measures that are contained in Budget 2026. And redounded to the benefits of both the Guyana productive sector and the individuals and households across the country.”
Though the Bill did not enjoy the support of the Parliamentary Opposition, Dr Singh noted that not only will these amendments allow for increased benefits to citizens, but they also demonstrate the “inescapable fact” that the only political party that presented a comprehensive vision for improving the lives of Guyanese is the PPP/C.

“The Guyana that we want to build…[and] the Guyana that we are building will see every single Guyanese citizen be able to achieve [and] secure not only their own well-being but be able to achieve personal and household prosperity,” the Finance Minister emphasised.
The Fiscal Enactments (Amendment) Bill 2026 allows for an amendment to the Income Tax Act, the Corporation Tax Act, the Value-Added Tax (VAT) Act, the Property Tax Act and the Customs Act.
These amendments will increase disposable income, reduce the cost of living, promote local production, stimulate investment in priority sectors, and provide targeted tax and duty relief to individuals and businesses. They give effect to the Government’s fiscal policy measures for 2026, aimed at enhancing economic activity, supporting households, encouraging local production and reducing the overall cost of living.

Budget 2026 measures
Some of the measures announced in Budget 2026 by the Senior Minister that the Bill gives effect to include the removal of corporate taxes on agriculture and agro-processing businesses, expanding the list of products eligible for export allowance to include timber value-added products, the removal of VAT on locally made furniture and locally produced jewellery, and the removal of duty and VAT on security equipment.
Additionally, a flat tax of $2 million on double-cab pick-ups less than 2000cc irrespective of age and $3 million on double-cab pick-ups between 2000cc and 2500cc irrespective of age was also introduced, while VAT was removed on vehicles below 1500cc and on hybrid motor vehicles below 2000cc.

Similarly, the Government has removed all import duties and taxes on all-terrain vehicles (ATVs) and on outboard engines up to 150 horsepower.
For elderly and childcare, corporate taxes have been removed for companies providing these services, and some $1.5 billion in co-investment support has been made available.
Moreover, the Net Property Tax on Individuals was removed, and the Income Tax Threshold was increased from $130,000 to $140,000 monthly.
With the Fiscal Enactments (Amendment) Bill 2026 now approved by the House and once assented to by the President, the amendments to the Income Tax Act and the Corporation Tax Act would come into operation from the current year of income, commencing on January 1, 2026, while the amendments to the VAT and Customs Acts shall come into operation on February 16, 2026.
On the other hand, the amendments to the Property Tax Act will come into operation from the year of income, commencing January 1, 2025.

Destination wedding in Guyana
Meanwhile, the Marriage (Amendment) Bill 2025 was also passed in the National Assembly to introduce another budget measure that supports Guyana’s tourism industry through the removal of the 14-day residency requirement for destination weddings.
Piloted in the National Assembly by Minister of Home Affairs, Oneidge Walrond, the measure is expected to expand tourism-related economic activity to the benefit of the hospitality industry.
With the Bill receiving the support of some members of the Opposition – Ganesh Mahipaul of A Partnership for National Unity (APNU) and Nandranie Singh of We Invest in Nationhood (WIN) – Walrond assured that the changes would not alter the sanctity of marriage but simply remove the archaic requirement and modernise the laws to make Guyana more attractive, accessible, efficient, and aligned with modern realities.
“We say to the Guyanese in the Diaspora: come home, get married. You can get it done. We say to the foreigners, ‘Come to Guyana, see the idyllic Kaieteur Falls and all our many other waterfalls and waterways. Come and get married!’ Guyana is serious about business,” the Minister stated.
Similar sentiments were shared by Tourism, Industry and Commerce Minister Susan Rodrigues, who noted that this was one of the recommendations that came to the Government to enhance and expand Guyana’s tourism offerings.
“Today, we are here to give effect to [one of] those recommendations… A lot of these measures benefit small and medium enterprises, and in the tourism and hospitality sector specifically, the greatest beneficiaries would be small and medium-sized enterprises,” Rodrigues stated.

$18.8B Financial Paper
Meanwhile, the National Assembly also approved after midnight on Friday, Financial Paper Number 2 of 2025, totalling $18.8 billion for advances made from the Contingencies Fund that catered for developmental works countrywide and other initiatives during the period from November 18 to December 16, 2025.
This sum catered for $10.5 billion under the Ministry of Public Works for the provision of additional resources to execute the Ministry’s expanded work programme, such as highway improvement on the East Coast of Demerara, miscellaneous roads and drainage, hinterland roads, sea and river defence works, and works on stellings and Government buildings.
Meanwhile, under the Ministry of Human Services and Social Security, the financial paper made provision for additional resources for the payment of Old Age Pensions and Public Assistance to the tune of $5.4 billion, and a further $1.4 billion was catered for under the Ministry of Education for the provision of additional resources to facilitate an expanded work programme, specifically dietary, for primary education.
Under the Ministry of Housing, the financial paper provided $640 million toward additional resources to facilitate an expanded work programme in relation to hinterland water supply, water service expansion and management.
The financial paper also catered for $548.8 million to cater for expanded work programmes in Regions One, Two, Five, Seven, Eight and Nine, mainly in the areas of health and education, as well as for other activities, including national and other events, local travel and subsistence, and cleaning and extermination services.